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Established Moonwalk Business Loan

I'm looking to purchase an 8 year old established moonwalk business and I'm
in need of a loan. Can anyone offer any guidance on which loan would offer us
the the highest chance of approval?
I'll be happy of offer more info if needed.
Thanks.
Brian

JGabriel | Community Moderator |
6/4/2013 - 3:13 pm

YendoraCapital | Window Shopper |
5/31/2013 - 12:27 am

Depending on how much you are looking to borrow, there are community based
programs all across the country that provide funding to what you are
specifically inquiring about. They are mainly in larger metro areas like Los
Angeles, San Jose, NYC...

PBCC Company | Window Shopper |
5/30/2013 - 1:44 am

If you are looking to purchase 8 year old established business then your
chance of approval of loan is already high. 8 year old established business
is having his own credibility and preference and this will help you. So
please proceed without hesitation.

PrincipisCapital | Window Shopper |
5/29/2013 - 3:07 pm

BizResearcher | Window Shopper |
5/29/2013 - 11:46 am

Your best bet is to talk with a banker at a state or community bank, not a
large national one. The smaller banks are usually more interested in
promoting business in their communities. You will need a well written and
researched business plan to share with the banker. Then, he/she can recommend
the best loan package for you.

You will need an attorney to create a legal buy/sell agreement for you and
you will need to secure three years of financial statements from the current
owner. You should have a CPA review the statements for any red flags, then
share them with the loan officer at the bank as part of your loan request.